Re: OT: taxes on small farm

Posted by JMS/MN on October 07, 2005 at 13:46:54 from (204.73.106.15):

In Reply to: Re: OT: taxes on small farm posted by Nathan in Texas on October 07, 2005 at 11:20:55:

You are right about the Sec 179, expensing it in the year of purchase. I also don't know if it applies to real property, but it should be pointed out that expensing it is an option, but you lose the option of depreciation on the item. Cannot expense it now and depreciate it over time. It's one or the other, and you need to look ahead for expected fluctuation in income to determine which is the better path. Immediate large advantage now, or smaller annual advantage over the long term.

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• Re: OT: taxes on small farm JMS/MN 13:49:10 10/07/05 (0)

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